Business Reforms in El Salvador
= Doing Business reform making it easier to do business. = Change making it more difficult to do business.
Dealing with Construction Permits: The municipal authorities of the San Salvador Metropolitan Area introduced legislation requiring phased inspections during construction, as well as experience requirements for professionals in charge of inspections. Furthermore, an online system was implemented for the payment of preliminary construction fees.
Getting Electricity: El Salvador improved the reliability of electricity by introducing new software programs allowing better outage management and maintenance planning.
Paying Taxes: El Salvador made paying taxes easier by implementing an online platform for filing and payment of taxes, and by moving to risk-based audit assessment selection system focusing more on larger companies.
Trading across Borders: El Salvador made exporting and importing easier by increasing the number of customs officers at the Anguiatú land border.
Getting Credit: El Salvador made access to credit information more difficult by reducing the coverage of the credit bureau.
Paying Taxes: El Salvador made paying taxes easier by encouraging the use of the electronic system for filing taxes.
Getting Credit: El Salvador improved access to credit by adopting the Law on Movable Property, which established a modern, centralized, notice-based collateral registry and allows a general description of a single category of assets granted as collateral.
Trading across Borders: El Salvador increased the border compliance time for exporting and importing by adding an extra, nonintrusive inspection at the Anguiatú border crossing with Guatemala.
Paying Taxes: El Salvador made paying taxes more costly for companies by increasing the corporate income tax rate.
Trading across Borders: El Salvador made trading across borders easier by developing a one-stop shop for exporting and by implementing electronic data interchange systems.
Getting Credit: El Salvador improved access to credit information through a new law regulating the management of personal credit information.
Paying Taxes: El Salvador introduced an alternative minimum tax.
Protecting Minority Investors: El Salvador strengthened investor protections by allowing greater access to corporate information during the trial.
Starting a Business: El Salvador made starting a business easier by reducing the minimum capital requirement, simplifying the legalization of accounting books and easing publication requirements.
Trading across Borders: El Salvador reduced the time for exporting and importing by modernizing its customs system, reducing physical inspections, improving traffic control at the port and implementing a single-window system, while improvements in the banking sector reduced the time required to obtain a letter of credit.
Trading across Borders: El Salvador made trading across borders easier by establishing a one-stop shop for importers.